Manufacturing
INDUSTRY
45
EMPLOYEES
$10M
ANNUAL REVENUE
Interim Controller & Cleanup Project
VIP SOLUTIONS CASE STUDY
BACKGROUND
A standalone business unit of mid-size company required interim control and clean up on a non-core business unit. This business unit was incurring recurring losses due to lack of financial control and visibility to the parent.
OBJECTIVES
Catchup 2-3 months of financial activity
Establish process to maintain timely, accurate close
Evaluate revenue and CoGS recognition processes
Implement process to reconcile inventory perpetual
Document processes and procedures for transition to new hire
SOLUTIONS
Caught up financial reporting on past due periods
Developed reporting package in line with parent company's process
Developed close calendar and process to meet 5 day reporting timeline
Developed revenue & margin analyses to ensure alignment of daily sales logs & monthly reporting
Developed process to align inventory transactions between perpetual and GL
Trained client team members to ensure continuity
Successfully cleaned up past due periods, assumed controller duties and successfully transitioned to successor resources.
STATUS DOCUMENTATION
VIP’s Project Status documents enabled an on-time delivery of project goals by outlining the timelines and status of tasks and objectives, keeping the client informed throughout the process.
